joining the president and vice president, boehner, pelosi, reid and mcconnell. their goal, agree on something before the country falls off the so-called fiscal cliff in four days. kelly o'donnell joining me live now and i understand we have information on the smaller offer that you reported that the president is making this information. >> reporter: good afternoon, craig. so they're going to meet, they need something to talk about the president is prepared to put on the table what aides describe as a smaller offer. you know, they had hoped to go for something much grander but with the 11th hour deadline, they want to do something to follow the lines of what the president said in the briefing room before going to hawaii for the holidays. basically resetting the discussion for income rates at the threshold he originally wanted, $250,000 for couples. why that's important is because in previous conversations with speaker boehner, the president had moved off that number to something more friendly to the republican party, putting the number at about $400,000 and peopl